First Home Owners

Buyer Information

There are a couple of great initiatives provided by the Queensland Government to assist First Home Buyers to purchase a new home as their first home. These include:-

‘Great Start Grant’ and ‘First Home Owners Duty Concession’.

Great Start Grant

What is it?

The Great Start Grant assistance program provided by the Queensland Government to help first home owners to purchase their first property. Unlike the First Home Owners Grant (which the great start grant replaced) the Great Start Grant only applies to New Properties.

What do I get?

The Great Start Grant entitles you to receive $20,000.00 upon settlement of the Property.

Am I eligible?

If you …

are at least 18 years of age

are an Australian citizen or permanent resident (or you’re applying with someone who is an Australian citizen or permanent resident)

or your spouse has not previously owned property in Australia

You’re building or buying a new home

and the value of the home is under $750,000,

… you are likely to be eligible for the Great Start Grant.

Fast Facts Sheet

First Home Transfer Duty Concession

What is it?

In Queensland, when you purchase residential property you pay Transfer Duty (formally known as “Stamp Duty”) on top of the purchase price. For Example, an investor purchasing a new unit for $400,000.00 will pay an additional $12,425.00 in Transfer Duty. In order to assist eligible First Home Buyers, the Queensland Government will either significantly reduce or waive the cost of Stamp Duty.

What do I get?

For purchase prices up to $500,000.00 you will not have to pay any Transfer Duty; or
For purchase prices above $500,000.00, you will pay a significantly reduced rate of stamp duty.

Am I Eligible?

If you …

are 18 years or older

have never received an first home concession or vacant land concession

have never owned any property in Australia, or anywhere in the world
are acquiring a residence that you intend to occupy as your first home for at least 12 months

move in within 12 months

do not intend on renting the property out before you have lived in the property for at least 12 months

… you are likely to be eligible for the First Home Transfer Duty Concession.

Click here to learn more about the First Home Transfer Duty Concession.